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2015 (10) TMI 1138 - AT - Central ExciseDemand of CENVAT Credit along with interest - whether the appellant is liable to the interest on ₹ 1,58,775/- or ₹ 48,386/- during the intervening period. - Held that:- I have gone through the decision of Ind-swift Laboratories (supra) and decision of Strategic Engineering (supra) wherein the decision of Ind-swift Laboratories was considered and thereafter relying on the decision of Bill Forge Pvt. Ltd. [2011 (4) TMI 969 - KARNATAKA HIGH COURT] wherein the Hon ble High Court have considered the decision of Apex Court in the case of Ind-Swift Laboratories Ltd. [2011 (2) TMI 6 - Supreme Court] and held that if the Cenvat credit availed by the assessee wrongly but same has been reversed before utilization of the same, no interest is payable by the assessee. In these circumstances, relying on the decision of Strategic Engineering P Ltd. (2014 (11) TMI 89 - MADRAS HIGH COURT), I hold that appellant is required to pay interest only on ₹ 48,386/- during the intervening period. - Therefore, if the appellant is not contesting the merits of the case, the penalty is not imposable on the appellant in the light of M/s. Atul Ltd. vs. CCE, Surat [2012 (10) TMI 826 - CESTAT, AHMEDABAD]. Therefore, I hold that penalty on the appellant is not imposable. - Appeal disposed of.
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